Paul Tudor Jones, a billionaire based in America, has just revealed his crypto portfolio. The man deals in hedge funds and is also a bona fide philanthropist. Mr. Tudor is famous for predicting the 1987 stock market crash and walks in the ranks of Michael Burry, who predicted the 2008 housing market crash.
What Crypto-assets is Paul Tudor Holding?
Bitcoin (BTC)
Mr. Tudor has been very vocal about his support for Bitcoin. However, he has not hinted that he holds any other crypto other than Bitcoin. In June 2021, he admitted that he likes Bitcoin as a diversifier for his portfolio. He considers Bitcoin as a play to protect wealth.
The primary function of gold is as a store of value. BTC as a digital gold is also a store of value. This means that when crypto traders get profit from trading, they should convert the profits to bitcoin. However, Bitcoin does more than hedge wealth against inflation. Bitcoin improves your portfolio because it increases in value.
Mr. Tudor argues that Bitcoin is a good investment due to certainty. Because of its tokenomics, network usage, and decentralization, Bitcoin is 99.99% sure to succeed. The Tudor Investment Corp has shares in two Bitcoin mining companies. This further solidifies the assumption that Tudor has BTC in his portfolio.
FTX (FTT)
FTX exchange, in late July 2021, organized a Series B fundraiser. The rapidly growing Exchange raise a massive $900 million. Paul Tudor Jones took part in this fundraiser. Because of this, people speculate that Mr. Tudor holds FTT tokens. As an investor in the Exchange, he gets some token allocation from the Exchange.
FTX is one of the leading exchanges in the United States aside from Coinbase. However, currently, it is the only crypto exchange in the US that is compliant with the nation’s laws. Coinbase recently crossed paths with the SEC when they blocked Coinbase from offering USDC staking on their platform.
Ethereum (ETH)
Mr. Tudor has been quoted saying every nation will use cryptocurrencies (not only Bitcoin). The billionaire has also likened other cryptocurrencies to rare and precious metals like copper, platinum, and palladium. In an interview with Yahoo Finance, Jones said Ethereum was needed if the growing and disruptive world of DeFi was be accessed.
Mr. Tudor called Ethereum an “industrial digital asset.” This is a title befitting Ethereum as it has also been said to be the key driver of the fourth industrial revolution. On top of Ethereum, heaps and heaps of protocols have been developed that interact with real-world traditional companies, improving them and onboarding them onto the blockchain. Some of these protocols and projects include Unibright (UBT), Chainlink (LINK), and Centrifuge (wCFG), among many others.
Takeaway on Paul Tudor Jones
Bitcoin’s price has continued to recover after the recent dip. Rumors that China’s real estate giant, Evergrande, is in a $300 billion debt triggered the BTC crash. However, recent news reports indicate that the company will settle its debt on September 23rd. This news has seen BTC begin a relief rally as markets breathe from the worldwide economic tension.